New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-10-07
this course will be pursued only where the com

this course will be pursued only where the com
petition has been severest.
A member of the Executive Committee remarked:
There need not be the slightest fear that the
consolidation will result IN an advance In tele-
graph rates. Mr.. GOulds views on this subject arc
we'll known and the directors are fully satisfied
with the success of his p3llGy. There could be no
making money at the present rates because 1t
would excite opposition. The day of high rates
has passed forever"
JOHN /. Terry. another member of the committee,
sand: " There will be no advance in rates unless
possibly III few cases. never was so well salts
establishes the supremacy OF the Western Union
and'yOu Will not again hear of an opposition llne
The Baltimore and OHIO with all the ADVANTAGES
of its railroad lines and connexions was run at
loss and no other company VIII attempt opposition
under more favorable cnmstances'
BY this purchase the Western Union now con-
trolls all the telegraph lines entering New-lork by
the trunx hne railroads.
QUICK RESPONSE IN WALL STREET.
While Wall Street was somewhat mystlhed by
the lack of an official statement by the Western
Union Company, the stock market responded
quickly to the news. Western Union was the chief
centre of interest and the price RAPIDLY advanced
2Io per cent in the first hour The fluctuations
afterward were within a narrow range and In the
last hour the whole market yielded under false ru-
moIs that he negotiations had fallen through The
error was promptly corrected and the closing was
at advancing prices. Western Union scored n final
gain of IS per cent and ended only y per cent be-
low Its highest price. -
favorable inmOrs from Philadelphia in regard TO
the reorganization OF the company the advance
was partly Land to he fresh success of the Baltl-
more aud OHIO syndicate and the assurances II
afforded that its other purposes would be
fully carried out. The whole market sym
pathzed with the advances III these stocks
which did much to increase the constantly growing
confidence III Wall Street
OPINIONS FROM VARIOUS SOURCES.
II. Victor Newcomb talking about the news,
SAID q think this transaction changes the
whole situation and the speculative temper III
will be of great benefit to the Street. although do
not look for such an effect would be produced al
former DAYS. But the new stock of the Western
Union goes into the hands of important foreign
houses who will not be satisfied to negotiate 1t at
INV > per cent advance. The probabilities are
that it will lead 10 the listing Of the stock on the
London Stock Exchange for the influence of the
syndicate VIII be likely 10 allav previous opposi-
ton The result of the long telegraph contest de-
mOnstrates that private capital cannot successful
ly c mpete with the Western Union organization
at any rates. There is not likely to be any new
enterprises started III that direction Tor long
A prominent member of the Western Union ex
ecutive committee SAID: " do not care 10 discuss
the terms of the purchase, as 1t was agreed that Dr.
Green should make up a memorandum 10 be gwen
to the press. Bat the transfer Is accomplished ana
Mr. CARROTS arrival VIII have no bearing on lne
case. We sorry that we could not get better
terms but | think that they are satisfactory And
/ think that the publlc will be pleased when they
Team of all that has been done. The transfer
will result lower and uniform lates
IN many directions. Take, for instance. New
York state, where the rate twenty-five cents for
ten words. I'm Illinois the rate IS forty cents. ana
it is likely 10 be twenty five cents hereafter. vi
course there viii be great saving Ill the abandon
ment of offices in many places wnele more tDah one
or two is NOT needed, and in the reduction OF the
working force. Low rates will be permanent, for
the Western Union has been able to make them
profitable: no one else can. The change Is good
thing for everybody-well every body but the
bears perhaps don't care for that for l think
that any body who sells what he hasn't got and
tries 10 wreck tie property of others ought TO De
punIShed--ought 10 be punished.
President -. ii. Bates. of the Baltimore and ONO
Telegraph Company. was seen late by reporter
and he had apparently just been informed of the
purchase. In response to inquiries he SAID:
nave nothing 10 say about the matter and do not
know the details of the purchase.
WHAT Will be the probable effect as regards the
offices aud the employees Of the company
'You will have TO see he new purchasers about
that" replied Mr.. Bates smiling aud he put on his
oveIcOat to leave his Office after busy day OF
work.